Unit sales of domestically produced cars and light duty trucks (including sport utility vehicles and mini-vans). Individual manufacturers report usually report sales on the first business day of the month. Motor vehicle sales are good indicators of trends in consumer spending. Why Investors Care
| Released on 1/3/07 For Dec 2006 | ||||||||||||
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Highlights
Motor vehicle sales proved stronger than expected in December, at a 12.7 million annual rate vs. expectations for 12.5 million. Car sales in the month were stronger than truck sales, especially for Chrysler and Nissan. But truck sales are still solid though they remain, in a reflection of high gas prices, well below last year's rate. Clouding today's results is the fact that sales data from the auto makers the last two months have proven much weaker than final data issued by the Commerce Department. Chain-stores will post their December sales results tomorrow.
Motor vehicle sales slipped to an 11.8 million rate in November from 12.3 million in October. Sales were soft in both autos and light trucks.
Motor vehicle sales Consensus Forecast for December 06: 12.5 million-unit rate
Range: 12.3 to 12.5 million-unit rate
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Motor vehicles sales slowed notably in 2006 as a result of higher interest rates and a jump in gasoline prices but remained at reasonable levels due to strong income growth. Late in 2006 and in early 2007, gasoline prices were down from 2006 highs but moderating economic growth kept sales from rebounding. Truck shares hit their peak in 2005 when gasoline was cheap and remain sharply lower since gasoline prices spiked in 2006. |
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